Lenny's Newsletter · Dan Hockenmaier
articleplaybookHow to tell if a startup has a moat
13 October 2026Product
Source excerpt
About Lenny's NewsletterA framework for assessing whether the company you’re considering joining is built to last
This is a limited feed-provided excerpt, not the full original work.
Apollo layer
What a founder can learn
Founder takeaway
Don’t mistake early traction for durability. Assess whether your startup has an advantage that competitors cannot easily copy and that becomes stronger as the company grows.
Why it matters
A credible moat shapes where you invest scarce resources, improves your ability to attract talent, and increases the odds that today’s growth can become lasting enterprise value.
Relevant guides
Put it to work
Ask: “What gets harder for competitors to replicate each time we add a customer, improve the product, or expand—and what evidence shows that advantage is compounding?”
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